The Hinduja Group plans to renew its thrust into India's power sector with the much delayed Vizag project in India expected to be fully operational by September 2013. The Vizag project picked up steam in 2008, a decade after it was proposed, but was hampered by regulatory issues since. The 1040 MW project, being executed by the group's power sector vehicle, Hinduja National Power Corp, is part of a plan to produce 10,000 MW...
November 26, 2011
Reliance, Tata Face Energy Caps in $3 Billion Efficiency Market in India…
According to reports, India has set targets for companies including Reliance Industries Ltd. (RIL) and Tata Steel Ltd. (TATA) on energy consumption reductions in preparation for a $3 billion-a-year market for trading efficiency credits. Companies have been notified of their targets and audits of their energy consumption have started, said Ajay Mathur, director of the Bureau of Energy Efficiency. “By mid-2012, we should be able...
Power Finance Corp sets up monitoring cell to keep watch on loan-book…
In the wake up difficulties being faced by the energy sector, state-run Power Finance Corp (PFC) has set up a project monitoring cell to keep an eye on the stressed loan portfolio, a top official said today. "Though the idea of monitoring cell was conceived in 2009, we have recently set up a separate cell for this to better check the progress of the projects to which we have lent money," Monitoring of the projects would be...
Delayed Indian Solar Projects May Lose Contracts, Official Says…
According to reports, two of India’s first solar projects under a state program offering favorable tariffs to build 20,000 megawatts of capacity suffered delays, a ministry official said, adding developers may lose contracts if deadlines are missed. “Two of the projects are behind schedule,” said Tarun Kapoor, who is responsible for overseeing...
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